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Premier Payment Processing

Start Accepting All Forms of Payments

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At TouchSuite, we provide payment processing solutions that fit your business. Online, in-store, and even on-the-go, wherever your customers are, we’ll connect you to the right payment processing technology to keep your sales flowing and your customers smiling. You can grow your business with our payment solutions that improve customer loyalty and cash flow.

What’s a Merchant Account?

what-is-a-merchant-account

As a small business owner, you know the importance of being able to accept debit and credit cards for payment from your customers. While we are not yet a completely cashless society, most customers do rely on debit or credit cards to make payments.

Since very few people these days carry cash, being able to process credit cards for payment translates directly to increase sales. However, accepting credit or debit cards isn’t something you can do on your own. You need a merchant services provider and a merchant account.

A merchant account lets you transfer funds from your customers debit and credit card purchases after they’ve been processed. You don’t have direct access to your merchant account, rather these funds are automatically transferred to your business banking account, generally in one or two business days. The merchant account exists merely to move payments that have been processed from your customers to your business.

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What’s a Payment Processor?

A payment processor is a company that handles the transactions required for your customers to buy your products. This company communicates with your customer’s debit or credit card company to see if they have the funds available to make their purchase. If they do, the funds are transferred, and the purchase is completed. This all happens in just a few seconds.

As your payment processor, TouchSuite takes security measures such as confirming your customer’s card information is correct. It is our responsibility to ensure that no fraud occurs. In addition, if a customer disputes and proves that your company incorrectly charged them, we will correct the accidental transaction.

Funds are handled this way for a few reasons. First, it keeps your funds secure. At TouchSuite, we take care of security issues and make sure all your transactions are safe. This saves you a lot of work and worry. In addition, the rules and regulations change and can be hard to keep up with on your own. We take care of that for you. And lastly, your customers feel more secure about entering their credit card information on your site.

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Accept All Payment Types

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Debit Card Processing

Customers love debit cards, they are easy to use, just like credit cards, but the funds come directly out of their bank account, so they don’t have to pay interest. You don’t need to know everything that happens once the debit card is swiped or the chip is inserted, to find a debit card processor. But having a general understanding of how the process works will help you understand the fees that are incurred at various points in the system.

First, the terminal transmits encrypted information to the card-processing network. The network makes sure that all the transaction information is correctly formatted. Then, it does a fraud analysis and sends the information to the bank that issued the debit card. The issuing bank verifies that the card hasn’t been lost or stolen, confirms that funds are available, and notifies the merchant whether or not the transaction has been approved. This all happens in a matter of seconds.

Customer data sent generally consists of the card number, funds requested, and the date. Merchant data includes the name, location, and merchant category code, or MCC, that is used for rewards programs. If the customer entered a personal identification number (PIN) that is encrypted and sent also.

At the end of the day, or sometimes several times during the day, the merchant sends all the authorized transactions back to the network to be reconciled and sent back to the issuing banks and financial institutions. The transactions are then posted to their customer’s accounts.

The network then calculates how much money each issuer owes the network and the merchant. Payment usually happens within a day or two. At TouchSuite, whether your business is 100% swipe, partially online, or primarily in wholesale, we have debit card processing solutions that will keep your business up and running.

Credit Card Processing

Credit card processing is very similar to the way debit card processing works. The bankcard networks send transactions between merchants, processors, and banks. In just a few seconds, your credit card processing software securely sends information to a processor and then through the network for approval from the issuing bank. The bank then sends the authorization back through the network to your processor, and on to your software.

This is just the first step in the process. The authorizations must then be settled before the funds from the sales can be deposited in your business bank account. Different fees are incurred at each stage – authorization, and settlement – and a failure at each step can result in additional costs or the funds not being deposited.

There are two main methods that credit card processors use to deduct fees from your transactions: daily or monthly discounting.

As the name implies, with daily discounting the processor deducts fees each day, before your funds are deposited. With this method, you get the net sale amount. If the method used is monthly discounting, the processor fees are deducted once a month, but deposits the funds daily. This means you get the gross sale amount daily.

There are a number of factors that determine the amount of process fees you pay, including which processor you use. In addition to finding the best rates for your business type and size, TouchSuite will meet-or-beat any competitors processing rates.

Mobile/NFC Processing

The idea of paying with cell phones has been around since the 1990s, but as with many things, the technology wasn’t there – until now. In the last few years, mobile pay has taken off as a viable option for merchants and consumers.

The majority of mobile payments use near-field communication (NFC). Similar to RFID technology, when two NFC-enabled devices are near each other, they can transfer payment information to each other. In this instance, the two devices are a smartphone, smartwatch, or tablet and an NFC-enabled credit card terminal.

In an era where it is getting increasingly difficult to keep customer data secure, mobile payments that involve two devices transferring information may seem risky. NFC-based mobile payments are secure because whenever a mobile device is used to make a payment, it creates a single-use credit card number that is sent to the merchant. As a result, you are never actually handling the customer’s sensitive information.

Although adoption rates are rising, mobile payments and NFC are a very small percentage of the payment processing space. However, being able to process mobile payments keeps you on the cutting edge of the industry. It’s even more important if your target market is young and tech savvy.

high-risk-payment-processing-account-touchsuite

Debit Card Processing

Customers love debit cards, they are easy to use, just like credit cards, but the funds come directly out of their bank account, so they don’t have to pay interest. You don’t need to know everything that happens once the debit card is swiped or the chip is inserted, to find a debit card processor. But having a general understanding of how the process works will help you understand the fees that are incurred at various points in the system.

First, the terminal transmits encrypted information to the card-processing network. The network makes sure that all the transaction information is correctly formatted. Then, it does a fraud analysis and sends the information to the bank that issued the debit card. The issuing bank verifies that the card hasn’t been lost or stolen, confirms that funds are available, and notifies the merchant whether or not the transaction has been approved. This all happens in a matter of seconds.

Customer data sent generally consists of the card number, funds requested, and the date. Merchant data includes the name, location, and merchant category code, or MCC, that is used for rewards programs. If the customer entered a personal identification number (PIN) that is encrypted and sent also.

At the end of the day, or sometimes several times during the day, the merchant sends all the authorized transactions back to the network to be reconciled and sent back to the issuing banks and financial institutions. The transactions are then posted to their customer’s accounts.

The network then calculates how much money each issuer owes the network and the merchant. Payment usually happens within a day or two. At TouchSuite, whether your business is 100% swipe, partially online, or primarily in wholesale, we have debit card processing solutions that will keep your business up and running.

Credit Card Processing

Credit card processing is very similar to the way debit card processing works. The bankcard networks send transactions between merchants, processors, and banks. In just a few seconds, your credit card processing software securely sends information to a processor and then through the network for approval from the issuing bank. The bank then sends the authorization back through the network to your processor, and on to your software.

This is just the first step in the process. The authorizations must then be settled before the funds from the sales can be deposited in your business bank account. Different fees are incurred at each stage – authorization, and settlement – and a failure at each step can result in additional costs or the funds not being deposited.

There are two main methods that credit card processors use to deduct fees from your transactions: daily or monthly discounting.

As the name implies, with daily discounting the processor deducts fees each day, before your funds are deposited. With this method, you get the net sale amount. If the method used is monthly discounting, the processor fees are deducted once a month, but deposits the funds daily. This means you get the gross sale amount daily.

There are a number of factors that determine the amount of process fees you pay, including which processor you use. In addition to finding the best rates for your business type and size, TouchSuite will meet-or-beat any competitors processing rates.

Mobile/NFC Processing

The idea of paying with cell phones has been around since the 1990s, but as with many things, the technology wasn’t there – until now. In the last few years, mobile pay has taken off as a viable option for merchants and consumers.

The majority of mobile payments use near-field communication (NFC). Similar to RFID technology, when two NFC-enabled devices are near each other, they can transfer payment information to each other. In this instance, the two devices are a smartphone, smartwatch, or tablet and an NFC-enabled credit card terminal.

In an era where it is getting increasingly difficult to keep customer data secure, mobile payments that involve two devices transferring information may seem risky. NFC-based mobile payments are secure because whenever a mobile device is used to make a payment, it creates a single-use credit card number that is sent to the merchant. As a result, you are never actually handling the customer’s sensitive information.

Although adoption rates are rising, mobile payments and NFC are a very small percentage of the payment processing space. However, being able to process mobile payments keeps you on the cutting edge of the industry. It’s even more important if your target market is young and tech savvy.

Connect with our payment specialists!
Call 561-260-5518 or click below to

TouchSuite Processing Benefits

Lowest Processing Rates

In addition to finding the best rates for your business type and size, TouchSuite will meet-or-beat any competitors processing rates.

Next Day Funding

Speed up your cash flow with our next day funding options. Gaining quick access to capital is critical to developing your business.

Accept All Payments

With our cutting-edge equipment, you can accept credit cards, mobile payments, checks and everything else they might throw at you.

Free POS Hardware

Qualified merchants are able to receive free processing equipment and POS hardware packages, like mobile terminals.

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You should never have to turn down a customer payment. With our cutting-edge equipment, you can accept all forms of payment, including credit cards, debit cards, checks, cash, mobile payments, and just about anything else that may come your way. Our software also lets you run a customized digital loyalty and marketing program to help keep existing customers and attract new ones. And qualified merchants can get free hardware packages and processing equipment.

We’re known for our customized solutions for securely processing transactions and our cutting-edge smart technology that gives you insights about your customers and their buying habits. In addition to searching out the best rates for your business size, TouchSuite will meet or beat any competitors processing rates. Your success is important to us, and we take pride in our customer support.

Fill out the form below or call 561-260-5518 to get a FREE rate quote today

Start Accepting All Payment Types Today!

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